Answer for How can I manage my accounts and lower my installments?

Luckily there are quite a couple of things you can try to make your debt more affordable.

Firstly, work out a budget for yourself if you have not yet done so. The purpose of the budget is to help you determine exactly how much you can actually afford to pay on these loans. It will also put all your other expenses into perspective for you. It could be that you are spending more than you should in some other areas which cause you not to be able to afford the loan repayments. The budget will also help you to prioritise certain expenses.

If you have done the budget and you were not able to move around some expenditure you can try the following. Schedule a meeting with the credit provider from who you borrowed the money. Take your budget with you and ask them to review your loan agreement terms. Ask them to extend your term which will reduce your instalment. Also ask for better interest rates. They cannot simply show you away, they must enter into discussion with you. By taking the situation to them and showing them that you can no longer afford the original instalments it will show that you are committed to paying your debt.

If they refuse to help you in this way, you can talk to us about debt review. We can then negotiate with your creditors and use the National Credit Act to force them to reduce your installments.

Please let us know if you don’t have any success with your credit providers. We’ll be more than happy to assist.